As part of an offer I presented the other night, I included the world’s smallest earnest money check. Not the amount — there’s not much chance of consummating a deal when the Buyer’s earnest money is infinitesimal. Rather, the check I delivered was literally tiny. My client didn’t haven’t their checkbook with them when we...Read More
Defining the Denominator One of the more useful (ballpark) benchmarks for determining a home’s likely selling price these days is what Realtors call “sales price as a percentage of list (or asking) price.” Depending on what part of the Twin Cities you’re talking about (and what price point), the number that’s out there at the moment is...Read More
A Short Brief Short Sale Q&A Question #1: When doesn’t a homeowner care what their home sells for? Answer: When they’re not receiving the proceeds. Question #2: When does a homeowner not care what the Realtor’s commission is? Answer: When they’re not paying it. Question #3: When do both of the above apply? Answer: In...Read More
On the Plus Side, There’s a Lot Less Prep Once upon a time, listing presentations — essentially, a job interview for Realtors — took about an hour, and covered such things as the Realtor’s track record, credentials, marketing strategy, references, recent housing market activity, etc. Now? After exchanging social pleasantries and taking a quick house...Read More
Housing Market Achilles Heels and Deal Breakers Experience has taught me that if something’s been on MLS for more than a week and looks too good to be true . . . it invariably is. The latest reminder of that was an $80k Hopkins home that I just showed this afternoon. The catch? Actually, two: 1)...Read More
Learning the Market — Twice; or Rinse “Flush and Repeat” What’s the worst thing about a short sale that doesn’t work out (depending on who you ask, the result 50% to 70% of the time)? From the would-be Buyer’s perspective, it’s the frustration and disappointment associated with having flushed months waiting on a home that, ultimately, wasn’t...Read More
